Sequoia Financial Advisors LLC Has $2.25 Million Stake in FedEx Co. (NYSE:FDX)

Sequoia Financial Advisors LLC decreased its holdings in FedEx Co. (NYSE:FDXFree Report) by 31.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,764 shares of the shipping service provider’s stock after selling 3,588 shares during the period. Sequoia Financial Advisors LLC’s holdings in FedEx were worth $2,251,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in FDX. Crossmark Global Holdings Inc. increased its holdings in FedEx by 20.9% in the fourth quarter. Crossmark Global Holdings Inc. now owns 29,246 shares of the shipping service provider’s stock worth $7,398,000 after buying an additional 5,055 shares during the last quarter. Western Wealth Management LLC increased its holdings in FedEx by 10.0% in the fourth quarter. Western Wealth Management LLC now owns 3,655 shares of the shipping service provider’s stock worth $925,000 after buying an additional 333 shares during the last quarter. Trust Point Inc. acquired a new position in FedEx in the fourth quarter worth approximately $282,000. Planned Solutions Inc. acquired a new position in FedEx in the fourth quarter worth approximately $32,000. Finally, EFG Asset Management North America Corp. increased its holdings in FedEx by 173.2% in the fourth quarter. EFG Asset Management North America Corp. now owns 7,620 shares of the shipping service provider’s stock worth $1,928,000 after buying an additional 4,831 shares during the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Stock Performance

Shares of NYSE:FDX opened at $294.00 on Friday. FedEx Co. has a twelve month low of $224.69 and a twelve month high of $302.41. The firm has a market cap of $72.35 billion, a PE ratio of 17.06, a price-to-earnings-growth ratio of 1.06 and a beta of 1.18. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.32 and a current ratio of 1.36. The business has a fifty day moving average of $260.88 and a 200-day moving average of $256.93.

FedEx (NYSE:FDXGet Free Report) last announced its quarterly earnings data on Tuesday, June 25th. The shipping service provider reported $5.41 EPS for the quarter, topping analysts’ consensus estimates of $5.34 by $0.07. The firm had revenue of $22.11 billion during the quarter, compared to analyst estimates of $22.04 billion. FedEx had a return on equity of 16.70% and a net margin of 4.94%. The company’s revenue was up .8% on a year-over-year basis. During the same period last year, the company earned $4.94 earnings per share. On average, equities research analysts predict that FedEx Co. will post 20.94 EPS for the current fiscal year.

FedEx declared that its Board of Directors has initiated a share buyback program on Thursday, March 21st that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the shipping service provider to buy up to 7.6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

FedEx Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 9th. Investors of record on Monday, June 24th will be given a $1.38 dividend. This represents a $5.52 dividend on an annualized basis and a yield of 1.88%. This is a positive change from FedEx’s previous quarterly dividend of $1.26. The ex-dividend date is Monday, June 24th. FedEx’s dividend payout ratio (DPR) is presently 32.04%.

Insider Buying and Selling

In related news, CAO Guy M. Erwin II sold 116 shares of FedEx stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $299.24, for a total value of $34,711.84. Following the completion of the sale, the chief accounting officer now directly owns 930 shares in the company, valued at $278,293.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other FedEx news, CAO Guy M. Erwin II sold 116 shares of the firm’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $299.24, for a total transaction of $34,711.84. Following the transaction, the chief accounting officer now owns 930 shares in the company, valued at $278,293.20. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director David P. Steiner sold 1,369 shares of the firm’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $297.71, for a total value of $407,564.99. Following the transaction, the director now owns 35,183 shares in the company, valued at approximately $10,474,330.93. The disclosure for this sale can be found here. Insiders sold a total of 135,980 shares of company stock worth $37,712,646 over the last three months. 8.73% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

FDX has been the topic of several analyst reports. Bank of America increased their price target on FedEx from $340.00 to $347.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. BNP Paribas reiterated an “underperform” rating and set a $250.00 price target on shares of FedEx in a report on Wednesday, March 27th. Morgan Stanley increased their price target on FedEx from $210.00 to $215.00 and gave the company an “equal weight” rating in a report on Wednesday, June 26th. TD Cowen increased their price target on FedEx from $320.00 to $335.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. Finally, Oppenheimer reissued a “market perform” rating on shares of FedEx in a research report on Wednesday, June 26th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat, FedEx has a consensus rating of “Moderate Buy” and a consensus price target of $314.00.

Read Our Latest Research Report on FDX

FedEx Profile

(Free Report)

FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. It operates through FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services segments. The FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; and time-critical transportation services.

See Also

Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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